Copper futures in the US slipped to around $5.33 per pound on Tuesday as investors weighed demand uncertainties from top consumer China. The nation’s top leaders signaled that boosting domestic demand will be a priority in 2026, while taking a measured approach to stimulus, balancing calls for looser fiscal and monetary policy with financial risk management. Despite this, copper remained near its highest levels in over four months, supported by ongoing supply disruptions and fears of a supply squeeze in the London market. Large withdrawals from LME warehouses last month were likely driven by concerns over potential US levies on refined copper next year. Prices also drew support from expectations of a 25 basis point rate cut by the US Federal Reserve this week, with 2–3 more cuts anticipated in 2026.

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